SpaceX has unveiled its plans for a public listing on the US stock market, disclosing its investor prospectus and revealing financial details for the first time. Elon Musk's rocket and satellite operations company will go public on the Nasdaq exchange at a valuation of approximately $1.75tn under the ticker symbol SPCX, likely on 12 June. The company is seeking up to $80bn in investment.
Company Background and Mission
SpaceX, the world's most prominent rocket manufacturer with extensive contracts with the US government, confidentially filed for an IPO last month. The filing allowed for a period of regulatory review before the details became public. In its filing, SpaceX declared: "Our mission is to build the systems and technologies necessary to make life multiplanetary, to understand the true nature of the universe, and to extend the light of consciousness to the stars."
Financial Performance
The disclosure shed light on SpaceX's usually secretive finances, revealing that it is investing billions of dollars into artificial intelligence. The company reported a capital expenditure of more than $20bn last year against $18.7bn in revenue for 2025. However, it also showed a loss of over $4.2bn in the first three months of 2026.
Starlink and Connectivity
The company's connectivity segment, which includes its Starlink satellite internet provider, has been the strongest pillar of its business. The connectivity segment brought in over $3.2bn in revenue between January and the end of March 2026 alone, and $11.4bn for the full year 2025.
Strategic Shifts
While SpaceX for years touted its mission of expanding humanity to Mars, that goal has been sidelined amid several other plans, including creating data centers in orbit to help fuel the AI boom and expanding its Starlink services. The company also acquired Musk's AI firm, xAI, in February.
Legal and Competitive Landscape
The disclosure comes after Musk's loss earlier this week in his court battle with OpenAI and its CEO Sam Altman. A federal jury found that Altman and OpenAI were not liable for Musk's claims that they broke a founding agreement of the business and unjustly enriched themselves. SpaceX's investor prospectus lists OpenAI along with other major AI firms such as Anthropic as key competitors to its business. All three businesses are set to go public this year, each at valuations of hundreds of billions or more than a trillion dollars, in what is one of the most blockbuster periods for public offerings in market history.
